This patent is directed to a payout administration method and system, and, in particular, to an electronic payout administration method and system.
The gaming industry is subject to regulation by numerous federal, state and local agencies. For example, those states that permit gaming typically provide extensive agency oversight of gaming system operators and over the gaming experience. Additionally, because the gaming industry handles and transfers sizable amounts of value, for example, in the form of coin, paper currency, and electronic media, federal, state and local taxing agencies are interested in accurate reporting of the value transfers involved.
As a consequence of the significant agency oversight, gaming system operators are responsible for completing and forwarding a variety of forms to numerous agencies, for example, when a player hits a jackpot on a gaming machine. The gaming system operator must submit forms to the state and local agencies that regulate gaming to verify the proper operation of the gaming machine involved. Typically, the forms that must be submitted vary from jurisdiction to jurisdiction, and more than one jurisdiction may be involved. In addition, there are federal, local, and state income tax forms that must be filled out and filed with the correct corresponding agencies. These income tax forms also typically vary by jurisdiction, and numerous jurisdictions may be involved.
To comply with the foregoing, employees of the gaming system operator must select the appropriate forms, and ensure that the forms are up to date. Additionally, the employees must gather data from the winning player and from the gaming machine that determined that a jackpot should be awarded. The employees must then fill out the forms completely, and obtain the player's signature, where appropriate. The employees must then make multiple copies of the forms, and distribute the correct number of the proper forms to the appropriate parties, i.e, the player, the involved agencies, the gaming machine manufacturer, the internal gaming system operator compliance officials, etc. Typically, the gaming system operator requires at least two trained gaming system employees to completely fill out the forms. A jackpot representative selects the forms, gathers the player's data, and fills out, copies and distributes the forms. A gaming machine technician is required to gather the data from the gaming machine.